| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27004 |
| 来源ID | Working Paper 27004 |
| Shotgun Wedding: Fiscal and Monetary Policy | |
| Marco Bassetto; Thomas J. Sargent | |
| 发表日期 | 2020-04-20 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation, and (c) conditions that secure a "nominal anchor'' in the sense of a unique price level path. We contrast incomplete theories whose inputs are budget-feasible sequences of government issued bonds and money with complete theories whose inputs are bond-money strategies described as sequences of functions that map time t histories into time t government actions. We cite historical episodes that confirm the theoretical insight that lines of authority between a Treasury and a Central Bank can be ambiguous, obscure, and fragile. |
| 主题 | Macroeconomics ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w27004 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584676 |
| 推荐引用方式 GB/T 7714 | Marco Bassetto,Thomas J. Sargent. Shotgun Wedding: Fiscal and Monetary Policy. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27004.pdf（422KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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